Sberbank Capital acquires 25.64% stake in the charter capital of GeoProMining Investment
September 12, 2014, Moscow – Sberbank Capital LLC has acquired a 25.64% stake in the charter capital of GeoProMining Investment (CYP) Limited (Cyprus) by obtaining an additional issue of the company’s shares.
GeoProMining Investment (CYP) Limited (Cyprus) is the holding company of GeoProMining Group, which possesses mining and processing assets in Russia (gold and antimony) and Armenia (gold, copper and molybdenum). The Group was founded in 2005. At the end of 2013 it held reserves of around 18 mln ounces in gold equivalent (according to the JORC standard) and had produced 5.5 tonnes (176,000 ounces) in gold equivalent.
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